Digital Asset Management Market By Offering (Solution, Services), By Deployment Mode (On Premises, Cloud), By Business Function (Human Resources (HR), Sales and Marketing, Information Technology (IT), Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
Digital asset management (DAM) is a content management system (CMS) that helps store and manage all kinds of digital files produced by enterprise marketing & creative teams. DAM software helps accommodate a broad spectrum of creative files that allows an organization to control & centralize the management of digital content or data that is accessed or shared by staff members or other users. The digital asset management market incorporates end-user industries’ expenditure on digital asset management solutions and services to store, organize, access, and share their rich media content. The service segment includes end user expenditure on consulting, implementation, and training & support. Some of the popular digital asset management solutions are asset analytics, asset & metadata archiving, brand portals, creative tool integration, lifecycle & rights management, video management, and web content management integration.
Furthermore, DAM systems can be used by a variety of organizations, from small businesses to large enterprises, and can be customized to meet the specific needs of different industries, including marketing, media and entertainment, education, government, and others.
Increase in adoption of digital asset management across enterprises, thus drive the growth of the market. In addition, the increase in adoption of cloud-based DAM solutions drives the growth of the growth of the market during the forecast period. In addition, growth in the need to meet the government’s compliance is anticipated to accelerate the market growth. However, security & privacy concerns among enterprises, high cost of innovation, and budget constraints hamper the growth of the market. In addition, need for ongoing maintenance and updating of the DAM system and challenges associated with managing and storing large volumes of digital assets are expected to hamper the growth of the market. Furthermore, increasing importance of digital assets for businesses of all sizes provides opportunities for DAM vendors to expand their customer base. Furthermore, the emergence of new business models, such as subscription-based pricing, make DAM more accessible to smaller organizations. Additionally, expansion of DAM solutions into new sectors, such as healthcare and education and development of new technologies, including virtual and augmented reality (AR), require efficient management of digital assets. Such factors are expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, the increase in adoption of cloud-based DAM solutions, growth in e-commerce and digital marketing, and rise in demand for video content also propel the growth of the market.
The digital asset management market is segmented into offering, business function, deployment mode and region. By offering, it is bifurcated into solution and services. By deployment mode, it is divided into on-premises and cloud. By business function, the market is segregated into human resources (HR), sales & marketing, information technology (IT), and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital asset management market are Aprimo, Adobe Inc., Cognizant Technology Solutions Corporation, Dell EMC, Hewlett Packard Enterprise (HPE), IBM Corporation, Oracle Corporation, OpenText Corporation, North Plains Systems, Widen Enterprises Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help drive the growth of the digital asset management market globally.
KEY BENEFITS FOR STAKEHOLDERSThe study provides an in-depth analysis of the digital asset management market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on digital asset management market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the digital asset management market from 2022 to 2032 is provided to determine the market potential.
Key Market SegmentsBy OfferingSolution
Services
By Deployment ModeOn Premises
Cloud
By Business FunctionHuman Resources (HR)
Sales and Marketing
Information Technology (IT)
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Oracle Corporation
Adobe Inc.
IBM CORPORATION
Open Text Corporation.
Aprimo
Hewlett Packard Enterprise (HPE)
Dell EMC
Widen Enterprises Inc.
North Plains Systems (Ignite Enterprise Software Solutions, Inc.)
Cognizant Technology Solutions Corporation
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